Samsung unveils prices for Galaxy S7 and S7 Edge phones

The major networks have also announced tariffs, though you're better off waiting for prices to come down before jumping in. We'll be updating our Samsung comparison tool with new tariffs once more are available.

However, if you must have the latest handset and simply can't wait, we outline here what it'll cost you.

Both models are available in black and gold, and all pre-orders come with a 'free' Samsung Gear virtual reality headset (RRP £79.99). Although the official worldwide release date is 11 March, UK websites are currently showing an expected delivery date of 8 March for the new handsets.

Unlocked Samsung S7 and S7 Edge prices (including VAT)

The 32GB models are similar in price to last year's on launch date and can be pre-ordered from Samsung's website.

• Samsung S7 – £569

• Samsung S7 Edge – £639

The 64GB models will not be available in the UK (nor in most of Europe and the USA, for that matter).

Contract prices for Samsung S7 and S7 Edge

The major networks have released pre-order tariffs for the new handsets, and as expected they aren't cheap. Although on a contract you'll save on the upfront cost compared with buying the phone unlocked and pairing with a cheap Sim-only deal, you'll typically pay more over the lifetime of a two-year contract.

Prices are usually at their highest following the release of a new model, and most likely we'll see them reduce in the coming months.

Here are the tariffs with the lowest upfront cost currently available on each network – this doesn't mean they're the best deals though (in fact less upfront usually means more overall). Also, they may come with different allowances, so always compare all tariffs that match your usage before committing.

• EE* –from £9.99 upfront and £49.99/month.

• O2* – from £9.99 upfront and £54/month.

• Three* – from £99 upfront and £35/month.

• Virgin – from £0 upfront and £34/month.

• Vodafone* – from £9 upfront and £50/month.

You can also get the new phones on contract from third party resellers such as Carphone Warehouse* and Mobiles.co.uk*.

Samsung unveils prices for Galaxy S7 and S7 Edge phones

Samsung S7 and S7 Edge versus S6 and S6 Edge

The new handsets are almost identical in design to 2015's, though they do have a few notable new features and upgrades.

• One capability omitted on the S6, but included in previous flagship models such as the S5, is expandable storage – the S7 and S7 Edge will take micro SD cards up to 200GB in size. This should ease the pain of those unhappy about the 64GB model not being available in the UK (and it's a more economic way to increase storage capacity on your phone).

• Regularly use your phone in the bath? If you’re butterfingered, both handsets are water-resistant to a depth of 1.5 metres for up to 30 minutes.

• The S7 Edge has a larger screen at 5.5 inches compared with the 5.1-inch screen found on the S7, S6 and S6 Edge.

• Although not removable, they have larger batteries (at 3,000mAh in the S7 and 3,600mAh in the S7 Edge, compared with 2,550mAh in the S6 and 2,600mAh in the S6 Edge).

• The cameras shoot at a lower 12-megapixel resolution compared with 16 megapixels on the S6 and S6 Edge.

Selling your old phone? Do it right

When selling an old mobile always compare prices using a mobile-phone recycling price-comparison service, such as our MobileValuer, to ensure you're getting the best price for your handset.

At the time of writing the most you'd get for a 32GB Samsung S6 is £192 and the least £172. A 32GB Samsung S6 Edge would fetch you £232 at the most and £200 at the least.

Alternatively, if you don't mind the extra admin, you may get more selling it on eBay.